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Madrid’s employment numbers are surprising

Registered unemployment fell in March in Spain in all the autonomous communities except in Madrid, where it rose by 1,013 unemployed people. The greatest decreases were registered in Andalucia (-15,284 unemployed), Canarias (-5,775) and Castilla y Leon (-4,446 unemployed), according to EuropaPress

The number of unemployed people registered in the offices of public employment services fell by 48,755 people in March in relation to February (-1.67 per cent) driven by the decrease in jobless people in the service sector due to Easter week hiring, according to data published today, Tuesday April 4 by the Ministry of Labor.

This is the largest percentage decline in registered unemployment in the month of March since 2002.

At the end of March, the total number of unemployed was 2,862,260—its lowest figure this month since 2008, according to Trabajo.

Yolanda Diaz´s department said that this drop in jobless in March is “especially positive in an international context of uncertainty,” especially “in the financial sphere.”

Except for the pandemic and war affecting figures in 2020-2022, the drop in unemployment in March 2023 is the most pronounced this month since 2016, when it fell by 58,216 people.

Four economic sectors saw unemployment fall, especially in the services sector which reduced 42,789 people (-2 per cent) due to hotel hiring for Holy Week. This was followed by construction (-1.7 per cent), industry (-1.47 pre cent) and agriculture with 2,648 fewer unemployed.

Jobless women fell by 25,897 women (-1.5 per cent) compared to men 22,858 men (-1.9 per cent).

Unemployment rose in March 2020 when Covid triggered jobless registration by more than 300,000 people.

Source: euroweeklynews